A trip cancellation in travel insurance coverage occurs when a person opts out of a planned travel before the scheduled departure date. Simply put, a person cancels a trip when he decides not to push through before the day he was supposed to go.
When a person cancels a trip, there may be prior reservations and advance payments that cannot be redeemed, like
The travel insurance provider usually agrees to compensate the insured when he cancels a trip because he, his family members or business partners suddenly passed away before the trip. (Insert GoBear making a sad face.) Depending on the terms of the policy, flight cancellations and related travel expenses can also be reimbursed when the insured backed out because a bad situation (riot, disaster, strike, civil commotion, etc.) developed in the destination, he was summoned to the court as a witness, or his home was damaged due to fire, flood or other disasters.
Trip cancellation in travel insurance is not to be confused with trip termination. In the former, a person backs out of a trip before it begins. In the latter, a person ends a trip in the middle of it.
Fortunately, all 37 of the plans from GoBear’s 10
*The coverage on trip cancellation in travel insurance plans from HSBC and Citibank come with a “deductible” condition, stating that the first ₱500 of the expense related to trip cancellations should be shouldered by the policyholder. Bummer.
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